real estate: stop living for resale value

We’re thrilled to be back with another Real Estate post today. Recently, we began a new series: “Buyer Beware.” We’ve covered septic systems, flooding + flipper white. Then, we covered the latest debacle out there, the class action realtor settlement. Some of our sweet readers have found these super helpful, so if you’re in the market or may be soon, be sure to check them out. You can catch up on that, as well as all our Real Estate posts, here! 

If you’re in the market now or will be in the future, we want to provide you with valuable information for navigating the real estate market so we can help you make that next purchase. We hope these posts help you ask the right questions about that next Real Estate transaction… and today, your current house. 

Today, we’re taking a break from the usual and tackling this post from a designer AND Real Estate perspective. And this is the number one thing we really, really, really want you to know: 

Stop living for resale value.

The number one question we hear way too often is: But what about resale value? We want to take these poor souls aside and ask them… are you even living your life? Because this is another way to tell us you’re living in fear, worried about what the next buyer will think. And are you even enjoying your own house in the meantime?

If you read nothing else in this post or today, or ever, here’s the main takeaway. Stop decorating your home for the next buyer. Stop worrying about resale value. You need to calm down. And maybe start enjoying where you live now. 

Nothing makes our head spin faster than to see a “Newly renovated kitchen” in a brand-new listing, complete with bespeckled 2000s Home Depot granite, alongside all the standard, builder-grade finishes. The homeowner renovated their kitchen {went super cheap, and you can tell} just so their home would sell. Usually, the rest of the home hasn’t been touched, so that’s  extra fun. Unless the homeowner knew what they were doing and/or worked with professionals, most finishes won’t add up to what the next homeowner wants, anyway. All that work for nothing. If the point hasn’t already been made, it just really makes us want to claw out our eyeballs. We can’t decide which we hate more, flipper white… or this owner-panic situation.

You’re in a relationship with your current house. Now. This is all you have. Right now. It’s the end. I hate to be the bearer of bad news, but no one knows how much time they have left in their actual life. This might be it. There might not be “another house.” Therefore, you should enjoy your home and where you are now while you have it. This has always been our mantra, and we’ll never feel differently.

What if I went out to coffee with a good friend and didn’t really enjoy the moment or talk much because I was saving it all for the “next relationship”? I mean, something better might come along, right? What if I purchased a really lovely dress and never wore it, waiting for the right occasion? I might one day have something to wear it for. I hope. 

No. Absolutely not. ::Breaks out spray bottle:: Savor the moment. Wear the dress. Drink that bottle of wine or whatever you’re “saving” now. Invest in your house now and make it a home for you. It’s your house, and it should express who you are. The right person will come along to buy your home, no matter what you do or do not do. Honestly, they’re probably just going to rip out what you did, anyway. 

Wouldn’t you rather know that you truly enjoyed it in the meantime?

This is a pep talk to all of you out there who have been living in the what-ifs. But we realize it still doesn’t answer the question or the underlying anxiety of that pretend next owner, so let’s cover that, too. 

Here are the actual reasons people will buy a house. 

1. It’s true what they say: location location location. If your house is in the right location, people will make it work for them. The next owner doesn’t care that you wallpapered your daughter’s ceiling or painted the laundry room blue. They care about the schools, shopping, and neighbors, or maybe even the lack thereof. Whatever they’re looking for as far as convenience or yard is what drew them to your listing. Promise. So hang the chandelier. Paint the bookcase. Build the pool. You’ll be so glad you enjoyed it WHILE YOU LIVED THERE. 

2. Curb Appeal. If location draws them to your listing, curb appeal will be the next best thing. Make it look good from the outside. It’s like a well-designed trap. Lure them in. Update the 30 year old roof. Get some new shutters. Clean out the gutters. Clear out your garden beds. Plant some flowers. Trust us. It’s what draws you in. We had a client tell us that they didn’t care what was inside the house when we did a drive-by. They knew it was for them, solely from the outside. It spoke to them. And guess what? They eventually updated the {70’s paneling} inside once they moved in. And lived happily ever after. 

3. Size of the Home. People are looking for specifics. Will their kids have to share a room? Will their mother-in-law have a place to stay when she comes to visit? Are the only bathrooms upstairs? No one cares if you have pink tile. If the house is in the right location, has curb appeal, and fits what they’re looking for size-wise… they’re sold. Bottom line. 

If you DO want to add something for the next owner, here’s what we recommend. 

1. Always redo the house because you want to. Renovate the kitchen because you want to. And then enjoy it while you actually live there. If in doubt, hire a professional {us!} to help you make tried and true, solid, intentional decisions. We eat, sleep, and breathe houses. Trust the professionals to do what they’ve been hired for, and then enjoy your home because it’s yours. Sleep better at night knowing you made the right choice.

I hired a photographer to capture our family last weekend, with whom we have always loved working. I absolutely trust her vision because I know she’s worth every single penny. I haven’t even seen the photos yet, but I know they’re going to be amazing. If you’re still unsure, trust professionals to do what you’ve hired them for. You won’t regret it. 

2. If you want to add something for the next owner and truly add value, add a bedroom and a bathroom where possible. Increasing the size of your home is the fastest return for any resale value. It’s the best way to add value to your home and ensure a speedy sale if you’re unsure. Bonus living areas like unfinished basements are also a nice area to consider. Add more square footage and, ultimately, up your resale game. Just promise us you’ll enjoy it in the meantime. 

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Thanks so much for tuning in today! Real Estate is an interesting beast, and having an agent who can pull the curtains back and help navigate what will most likely be the biggest purchase of your life is essential. As they say, you don’t know what you don’t know, and that’s where a good realtor comes in. {If you need help in hiring a Realtor, check out our post here.}

If you’re in the Middle Tennessee area, I’d love to meet you and help you find the perfect home; you can sign up here so we can start the process. And even if you aren’t in Middle Tennessee, contact us here, and we will take care of you no matter where you live. There is no reason to go it alone.